00:00It's Benzinga, bringing Wall Street to Main Street
00:02Gold prices fell on Monday as inflation concerns tied to the Middle East conflict
00:06raised expectations for higher interest rates, according to Reuters.
00:10Spot gold declined by 0.5% to $4,993.42 per ounce after hitting its lowest level since February
00:1919.
00:20U.S. gold futures for April delivery settled 1.2% lower at $5,002.20.
00:26The dollar fell from a 10-month high, making gold cheaper for buyers using other currencies.
00:32Analysts said higher oil prices could drive inflation and reduce the likelihood of rate cuts.
00:37Oil prices remained elevated this year as the Strait of Hormuz stayed closed during the third week of the conflict.
00:43Investors are watching PPI data, the Federal Reserve decision, Powell's speech, and jobless claims.
00:49For all things money, visit Benzinga.com.
Comments